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Tuesday, 17 June 2014


It seems that everyone is talking about CPF now.
What about the roof over our head?

If you had taken a mortgage loan to finance the purchase of your existing flat and have not settled the mortgage loan in full, the outstanding mortgage loan amount will be deducted from your resale price.
You would have to pay the shortfall IN CASH to HDB or the lending bank.
You would also need to RETURN THE CASH deposit which you have collected from the buyer to the HDB. This will be used to settle your outstanding mortgage loan and any CPF refund.


If you have used your CPF money for the purchase of the flat, you need to make a full refund of the CPF savings withdrawn plus accrued interest to your CPF account.
If you are 55 years old or above, good luck to the rest of your life in selling your flat.

In case you don’t know, HDB is the only public housing in the entire world whereby the government doesn’t spend a single cent to help the people but instead earn profit from land sales, that’s you for allowing PAP to stay in power for the past 50 years.
By the way, it is not the Government’s practice to disclose any reserve price in the tender of State land for property development.
In the sale of Government land, the Chief Valuer will submit the estimated market value (EMV) of a sales site only on the date of the close of tender.

In the process of tender evaluation, the Government’s Land Sales Agents will take into account the Chief Valuer’s EMV, the prevailing market conditions and other relevant factors before a recommendation is made for the award or rejection of tender for a sales site.
The market value of a sale site is determined by the Chief Valuer according to its approved use and the terms and conditions of the sale.
The tender bids received at the close of the tender will be evaluated taking into consideration the assessed market value determined by the Chief Valuer.